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Greystar Acquires Gardens East Apartments In Palm Beach Gardens For $92.16M

Property Image
SOLD
$92,160,000
Eric Adler
Bob Faith

Florida

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MultiFamily390,319 SF
Sold 07/29/2023
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Property Image
SOLD

Greystar Acquires Gardens East Apartments In Palm Beach Gardens For $92.16M

10000 FL A1AAlt Palm Beach Gardens, FL 33410, USA

See Similar Deals
MultiFamily390,319 SF
Sold 07/29/2023
Eric Adler
Bob Faith
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$236
Total Square Footage:390,319 SF
Transaction Type:Sale

The Gardens East apartments in Palm Beach Gardens have been sold for $92.16 million in a recent transaction. The multifamily property spans over 44.3 acres and consists of 448 apartments, offering a total of 390,319 square feet of living space. The sale price translates to an average per unit price of $205,714, with a price per square foot of $236. The property is located at 10000 Alternate A1A in Palm Beach Gardens.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $92,160,000
  • Address: 10000 Alternate A1A, Palm Beach Gardens
  • Market: Palm Beach Gardens
  • Acres: 44.3

Greystar, a real estate company, acquired the Gardens East apartments from PGIM Real Estate. This marks the second South Florida deal between Greystar and PGIM Real Estate. The transaction was facilitated by Bob Faith, the representative of Greystar, and Eric Adler, the representative of PGIM Real Estate. Berkeley Point Capital provided a mortgage of $72.71 million to Greystar as part of the purchase.

Players

Bob Faith
Greystar
Bob Faith
27 deals$2.4B volume
BUYER
Eric Adler
PGIM
Eric Adler
13 deals$1.1B volume
SELLER
Newmark Knight Frank (Berkeley Point Capital)
Newmark Knight Frank (Berkeley Point Capital)
LENDER

Details

SOLD
IMAGE: Eric Adler & Bob Faith DATE: 07/29/2023 ADDRESS: 10000 Alternate A1A MARKET: Palm Beach Gardens ASSET TYPE: Multifamily ~ ACRES: 44.3 BUYER: Greystar (@GreystarApartments) - Bob Faith (@RealtorBobFaith) SELLER: PGIM Real Estate - Eric Adler LENDER: Berkeley Point Capital SALE PRICE: $92,160,000 UNITS: 448 ~ PPU: $205,714 SF: 390,319 ~ PPSF: $236 NOTE: Greystar, purchased the Gardens East apartments in Palm Beach Gardens for $92.16 million, marking their second South Florida deal with the same seller in a short span. The property comprises 448 apartments and was acquired from PGIM Real Estate, with Berkeley Point Capital providing a $72.71 million mortgage to the buyer.

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